Auto Stocks may be at a crucial level. Index has been creating a falling wedge pattern closely following the mentioned trend line. A weekly close below the red line may be bearish and targets upto 9920 levels. Similarly weekly closing above the falling trend line may signal uptrend till previous highs. Lot depends on news flow and earnings so lets see...
30% chance of breakdown, 70% chance of breakout from this triangle. The long-term trend is still up. chances are there will be a fake-out and it might just turn around. trap the shorts
Lucifer759
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@RajPrajapati, A confirmation for a big trend like that will be a weekly close above or below the trend lines. We should wait for that